Is ARY Laguna Turning Into Another Real Estate Scam?
ARY Laguna, a joint venture of ARY Group with DHA City, is the first-ever man-made beach living in Pakistan
Like many other real estate projects, ARY Laguna is allegedly turning out to be a scam for the investors as several aspirants who have booked an apartment in the lavish project have reported irregularities.
ARY Laguna, a joint venture of ARY Group with DHA City, is the first-ever man-made beach living in Pakistan. ARY Chief Executive Officer (CEO) claims it to be the biggest housing project in Pakistan.
However, it is proving to be a scam as many people who booked apartment have reported that they are being swindled.
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Several investors shared their plight on different social media platforms and questioned the ambiguity surrounding the project as they say that the management is not sharing exact details about ARY Laguna.
They are still unaware of the duration required for the project to be completed or how many towers would be constructed in the first phase.
A social media user wrote that he received a call from ARY Laguna to pay off his outstanding amount for the two-room apartment he had booked.
However, the agent on the other side of the phone couldn’t answer when he asked him regarding the phase where he would be allotted an apartment.
Therefore, he wrote that he refused to pay anything.
Jaisa k bhai nay bataya tha….#ARYLaguna
Buying 10 forms doesn’t get you that guaranteed plot.
not only ARY but it’s platinum agents are also screwing the applicants. pic.twitter.com/mZY7k25R3g
— DMKM (@2paisay) June 14, 2021
Another user Abbad Shah shared that he booked an apartment in ARY Laguna for Rs 5.5 million. However, the management arbitrarily increased its price to Rs 6.8 million first and then to Rs 9 million.
When asked, the management contended that the changes in the construction cost were a reason behind the spike in prices.
They questioned if the planners hadn’t forecast the changes earlier and adjusted them in the final price of an apartment before fixing and advertising it.
Further, the construction work for the project hasn’t been initiated yet.
Several expats who have invested in ARY Laguna believe that such fraudulent schemes shake the confidence of overseas Pakistanis in investing in real estate in their home country.
Due to such kinds of complaints, the investors expressed that the mega housing project is turning out to be a scam.
